1. Field of the Invention
A verification system for use at a transactional point to establish the identity of a bearer and method of producing the same is provided, and more particularly, the invention provides a transactional instrument such as a check having a matrix array of subjectively coded symbols, obscured from view, which can be exposed in a particular manner for comparison with a dedicated, ascertainable code to verify the transaction.
2. Description of the Prior Art
As society becomes increasingly mobile and business transactions are accomplished without the direct transfer of money, there has become an increasing demand and need to permit independent verification of a transaction in a relatively efficient and inexpensive manner. Such transactions can occur through the use of credit cards, shipping documents, financial instruments, and negotiable instruments. The problem of verifying the bearer of the instrument has been constant for a long period of time. Numerous different systems, methods and modifications of negotiable instruments have been suggested in the commercial and patent literature to solve this problem. For example, U.S. Pat. No. 1,833,869 discloses an identification system for cashing travelers checks by matching only a segmented section of a signature. U.S. Pat. No. 3,258,277 discloses a personalized checkbook where pictures of the holder are incorporated with the checkbook. U.S. Pat. No. 2,264,889 discloses a travelers checkbook which conceals the signature until the check is detached from the holder at the point of the transaction. U.S. Pat. No. 4,667,985 discloses a bank check with a wax coating adjacent columns of monetary value.
The prior art has also addressed the problem of identifying the proper user of a credit card through the provision of an identification number and a key number, and a subsequent comparison with a secret number which has been memorized by the user. An example of such a system is disclosed, for example, in U.S. Pat. Nos. 3,665,162, 3,794,813 and 3,609,690.
U.S. Pat. Nos. 4,184,148 and 4,445,712 disclose an identification system requiring a plurality of grids to be presented by the store owner to the customer with specific locations on the grids or positional codes being identified by the customer to determine an identification number. An independent register correlates the identification numbers with the particular customer, for example, through his Social Security number or other number, to verify the transaction.
Frequently the prior art has resorted to computers for providing an identification from a specific card and personal identification numbers (PIN) with an algorithm which permits a verification of the holder of the card. Numerous examples of such systems exist in the prior art, such as U.S. Pat. Nos. 4,138,057, 4,283,599 and 4,268,715. With the use of automatic teller machines (ATM) and the increased use of credit cards, there have been numerous proposals in the prior art to secure the identification in a transaction relating to the dispensing of money from automatic teller machines. Additionally, various security systems for gaining access to confidential material, or even access to a computer data bank, are known in the prior art, and usually involve encryption and decryption of information from a user which will somehow verify his identity. Frequently, access to a computer is necessary for implementation of an appropriate algorithm to decode or to identify and verify the user.
The economics of providing a credible, convenient and inexpensive verification system is important not only to the user, but also to the merchant or institution which requires the verification. A subscriber or merchant at the transaction point must be receptive to both the cost and inconvenience associated with any security verification system. This also includes the cost of purchasing hardware and software, such as terminals and processing programs, to implement any specific security system.
There is still a demand in the prior art to provide an acceptable level of security that will minimize the demands on both the user and the merchant or institution which depends upon the verification to complete a transaction.